Franklin Electric Co., Inc. (NASDAQ:FELE) Increases Dividend to $0.27 Per Share

Franklin Electric Co., Inc. (NASDAQ:FELE) declared a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Thursday, February 6th will be given a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a yield of 1.08%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has increased its dividend by an average of 12.6% annually over the last three years and has increased its dividend every year for the last 21 years. Franklin Electric has a payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Franklin Electric to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

Franklin Electric Stock Down 0.5 %

Shares of NASDAQ FELE opened at $98.57 on Monday. The stock has a 50-day moving average price of $101.73 and a two-hundred day moving average price of $101.87. Franklin Electric has a 12 month low of $91.67 and a 12 month high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.93 and a beta of 1.00.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. As a group, analysts forecast that Franklin Electric will post 3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.72% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.